The Complete Guide To Every Genius Who Got This Ridiculous Rally Completely Wrong

Nouriel Roubini

This market is ridiculous.

It only seems to go up, and it’s made brilliant men look like fools.

Names like Stiglitz, Roubini, and El Erian have been humiliated by the bullish market boom, which has seen the DJIA reach heights near the infamous ‘DOW 11000’.

Many of these voices may be the ones in your head, helping you make investment decisions. Be certain they haven’t been wrong, very wrong before.

Here’s a complete guide to all the predictions gone wrong >

Cody Willard: Get Ready For Dow 6000

Nouriel Roubini: From V to U

'Thus, most likely, we can brace ourselves for new lows on U.S. and global equities in the next 12 to 18 months.'

--Nouriel Roubini, March 12, 2009

DJIA on March 12th, 2009: 7170

DJIA on April 6th, 2010: 10,970

John Mauldin: Investors Will Get Crushed Over Summer

David Rosenberg: The rally ended two months ago

'It would not surprise us to see the S&P 500 gravitate in a 475-650 range for an extended period of time.'

--David Rosenberg, April 2, 2009

DJIA on April 2nd, 2009: 7978

DJIA on April 6th, 2010: 10,970

Dylan Ratigan: Sucker's Rally. No Question

Blodget: Last question. You've been right in the middle of this meltdown day after day, interviewing the smartest people, etc. So is this a new bull market, or is this another suckers' rally?

Ratigan: Suckers' rally. No question. That's not an indictment of the judgement of the market. That's just my perception of the ability of the banks to function in a timely fashion, the ability to create meaningful amounts of jobs in the immediate future, and the as-yet unrecognised meaningful losses to come in commercial real-estate and other asset classes

-- Dylan Ratigan, April 10.

DJIA on April 10th, 2009: 8083

DJIA on April 6th, 2010: 10,970

Andy Kessler: Stock market Isn't Going Higher

John Hussman: Economic reports are about to kill stocks

'Overall, I am most concerned about abrupt downside risk'

-- John Hussman, May 28,

DJIA on May 28th, 2009: 8403

DJIA on April 6th, 2010: 10,970

Michael Markoski: The Market Will Head Down Again This Fall

'I believe that the markets are in the later stages of a powerful bear market rally that is close to its peak. I expect the market to trade in a narrow trading range until late this summer before it starts to head down again this fall.'

--Michael Markowski, founder of Stock Diagnostics, June 2

DJIA on June 2nd, 2009: 8740

DJIA on April 6th, 2010: 10,970

Joe Weisenthal: Could the stock market finally be taking a clue?

'The bull run has run out of steam, felled by higher commodity prices and yields on long bonds that keep pushing higher.'

-- Joe Weisenthal, June 14

DJIA on June 14th, 2009: 8799

DJIA on April 6th, 2010: 10,970

Glenn Neely: The Rally Has Ended

'Technically speaking, according to NEoWave a correction began at last October's low; the March-June rally is the final leg of that correction. The March-June rally is now ending, allowing the bear market to resume. During the next six months, the S&P will decline 50% or more, breaking well below 500!'

-- Glenn Neely, founder of NEoWave Institute and prominent Elliott Wave analyst, June 16, 2009

DJIA on June 16th, 2009: 8504

DJIA on April 6th, 2010: 10,970

Dave Rovelli: You'd Have To Be Crazy To Buy

'If you were to jump in right now, you're crazy,'

-- Dave Rovelli, managing director of US equity trading at Canaccord Adams, July 17.

DJIA on July 17th, 2009: 8743

DJIA on April 6th, 2010: 10,970

Kathy Boyle: It's A Sucker's Rally

'It's a sucker's rally. If you make money here, don't get greedy.'

-- Kathy Boyle, president of Chapin Hill Advisors, says of this week's market move, July 17.

DJIA on July 17th, 2009: 8743

DJIA on April 6th, 2010: 10,970

Bob Janjuah: Growth peaked in August

'I expect this risk rally to continue into -- and maybe through -- a large part of August. What happens after that? The next ugly leg of the bear market begins as we get into the July through September 'tipping zone', driven by the failure of the data to validate the V (shaped recovery) that is now fully priced into markets.'

-- Bob Janjuah, economist at Royal Bank of Scotland, August 12

DJIA on August 12th, 2009: 9361

DJIA on April 6th, 2010: 10,970

Doug Kass: The Market Has Likely Peaked

Henry Blodget: The End Of The Sucker's Rally

'Is that the end of the sucker's rally?

Henry Blodget, September 2

DJIA on September 2nd, 2009: 9280

DJIA on April 6th, 2010: 10,970

Gerald Celente: Christmas Crash

'Get ready for the collapse to happen very quickly. If it doesn't happen in the fall, it's going to happen after the Christmas holiday season, because it's going to be a Christmas crash, a retail wreck, because when the numbers are tallied up in early January, we're going to start seeing the freakout happen.'

--Gerald Celente on Sept. 10.

DJIA on September 10th, 2009: 9627

DJIA on April 6th, 2010: 10,970

Robert Prechter: Stocks peaked in September

'Stocks are very overvalued. Stocks peaked in September and are back in a bear market.'

-- Robert Prechter on Oct. 1.

DJIA on October 1st, 2009: 9509

DJIA on April 6th, 2010: 10,970

Joseph Stiglitz: Irrational exuberance

Gary Shilling: New low on the S&P?

'I think what's happened is still a bear market rally. And as a result, whether we hit new lows or not remains to be seen. I think we very well could go back and test that 666 on the S&P, maybe go a bit lower than that. And this decline may very well spill into next year.'

--Gary Shilling on Oct. 23.

DJIA on October 23rd, 2009: 9972

DJIA on April 6th, 2010: 10,970

Jeremy Grantham: We are going below fair value

Bill Gross: Out, out, brief candle

'Investors must recognise that if assets appreciate with nominal GDP, a 4%--5% return is about all they can expect even with abnormally low policy rates. Rage, rage, against this conclusion if you wish, but the six-month rally in risk assets--while still continuously supported by Fed and Treasury policymakers--is likely at its pinnacle. Out, out, brief candle.'

-- Bill Gross on Oct. 27.

DJIA on October 27th, 2009: 9762

DJIA on April 6th, 2010: 10,970

George Soros: This market is overextended

'Those earnings are not the achievement of risk-takers. These are gifts, hidden gifts, from the government.'

-- George Soros on around October 28

DJIA on October 28, 2009: 9763

DJIA on April 6th, 2010: 10,970

Albert Edwards: It is time to sell

'For Japanese investors, it took some time to learn the new metrics of investing. Today, investors have no such excuse... The leading indicators have begun to turn down in the US and so risk assets are therefore dangerous. Almost no-one will be willing to predict renewed global recession and no-one will predict new lows in equities. And with the market so bullish a cyclical failure will come as a crushing blow to sentiment. It is time for caution. It is time to sell.'

-- Albert Edwards around Dec. 9.

DJIA on December 9th, 2009: 10,337

DJIA on April 6th, 2010: 10,970

Mohamed El Erian: Stocks will tank within one month

'We're on a sugar high. It feels good for a while but it unsustainable.'

Claims: Stocks will drop 10 per cent in the space of three or four weeks, bringing the Standard & Poor's 500 index below 1,000.

Mohamed El Erian on Dec 28.

DJIA on December 28th, 2009: 10,547

DJIA on April 6th, 2010: 10,970

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.